Key highlights
- Eni signs a $1 billion+ power purchase agreement with CFS for fusion energy.
- The agreement involves a 400 MW ARC fusion power plant in Chesterfield County, Virginia.
- The plant is expected to connect to the grid in the early 2030s.
- This is CFS's second offtake agreement in three months for its first grid-scale fusion plant.
Agreement Overview
Eni and Commonwealth Fusion Systems (CFS) have signed a power purchase agreement valued at over $1 billion. This agreement involves Eni acquiring decarbonized power from CFS's 400 MW ARC fusion power plant located in Chesterfield County, Virginia.
Timeline and Capacity
The fusion power plant is expected to connect to the grid in the early 2030s. This agreement marks the second offtake deal CFS has secured in three months for its first grid-scale fusion power plant.
Strategic Partnership
Eni has been a shareholder in CFS since 2018, and this agreement expands their collaboration from technological to commercial. The partnership aims to advance the commercialization of fusion energy, a technology with the potential to significantly impact the global energy landscape.
